Last Whale valuation
$300M
Series C · May 2025
Last Whale funding round
$40M
Series C · Jul 2026
Cumulative funding Whale raised
$181M
across 5 funding rounds
Key investors in Whale
Linear Capital
Temasek
Singtel Innov8
Alpha Startups
Source Code Capital
BAI capital
About Whale
Whale is a Singapore-headquartered enterprise AI company delivering solutions in spatial analytics, voice intelligence, generative content, and AI agents. These tools automate workflows and convert real-time data into operational decisions for businesses across retail, logistics, and customer service. Whale serves more than 600 enterprise customers in over 20 countries, backed by investors such as Temasek, BOSCH Ventures, Singtel Innov8, and MDI Ventures. Founded in 2021, the company focuses on Asia-Pacific markets while expanding globally.
Founded
2017
HQ
SingaporeWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$300M (May 2025)
Whale Valuation
Whale is currently valued at $300M, based on its Series C in May 2025.
The $60M round was led by Temasek, with participation from MDI Ventures, Gentree Fund, Bosch Ventures, Singtel Innov8, MTR Lab and 1 other investor.
Whale valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2025 | Series C | $300M |
Whale Funding History
Whale has raised a total of $181M across 5 funding rounds.
Whale's first fundraising round was a $6M angel round in July 2018. The most recent completed round was a $40M Series C in July 2026.
Whale funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Series C | CMB International (lead); SMBC Asia Rising Fund (lead); Singtel Innov8; Krungsri Finnovate; Hyundai Motor Group; Charisma Partners | $40M | - | - |
| May 2025 | Series C | Temasek (lead); MDI Ventures; Gentree Fund; Bosch Ventures; Singtel Innov8; MTR Lab; Linear Capital | $60M | $300M | Whale is a Singapore-based enterprise AI firm providing an omnichannel marketing platform that leverages AI, IoT, and big data to connect brands with customers, digitalizing store operations and unifying online-offline experiences. Key products include SpaceSight for video analytics monitoring in-store behavior, Echo for voice intelligence analyzing conversations and sentiment, Harbor for automating digital marketing content management, and Alivia for AI agents handling search, compliance, and task orchestration. Founded in 2017, Whale serves over 600 enterprise customers and 1000+ global brands like P&G, Unilever, Starbucks, UNIQLO across 150,000+ stores in APAC, with offices in Singapore, Hangzhou, Shanghai, Beijing, and Shenzhen. Whale raised more than USD 60 million across Series C1 (early 2023 with Temasek and Linear Capital) and Series C2 rounds closing around May 2025, matching the specified investors including lead Temasek Holdings, Bosch Ventures, Gentree Fund, Linear Capital, MDI Ventures, MTR Lab, and Singtel Innov8. The Series C2 funding supports expansion of its product suite and global presence in Asia, Europe, and North America. Investors provide strategic value, such as collaborations with Bosch Ventures and MTR Lab on smart mobility, connected infrastructure, and retail digitalization aligning with smart cities themes. Approximately 70% of Whale's workforce focuses on R&D, emphasizing technical development and enterprise-grade scalability for sectors like FMCG, F&B, fashion, automotive, and retail operations. The investment addresses growing demand for enterprise AI in Southeast Asia for automation, compliance, and performance monitoring, positioning Whale as a global-grade AI player from Southeast Asia. |
| Sep 2021 | Series B | Temasek (lead) | $50M | - | - |
| Sep 2020 | Series A | Alpha Startups; NIO; Linear Capital; BAI capital; Source Code Capital | $25M | - | - |
| Jul 2018 | Angel | Alpha Startups; Linear Capital; Jiangmen Venture Capital | $6M | - | - |
Who has invested in Whale?
17 investors have backed Whale across its funding rounds, including Linear Capital, Temasek, Singtel Innov8, Alpha Startups, Source Code Capital and BAI capital.
Lead investors include CMB International, SMBC Asia Rising Fund and Temasek.
Whale Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Shanghai | 3 | Participant | Jul 2018 | |
| Singapore | 2 | Lead | Sep 2021 | |
| Singapore | 2 | Participant | May 2025 | |
| Beijing | 2 | Participant | Jul 2018 | |
 Jakarta | 1 | Participant | May 2025 | |
| Singapore | 1 | Participant | May 2025 | |
| Singapore | 1 | Lead | Jul 2026 | |
 Hong Kong | 1 | Lead | Jul 2026 | |
 Germany | 1 | Participant | May 2025 | |
| Hong Kong | 1 | Participant | May 2025 | |
| China | 1 | Participant | Sep 2020 | |
 Bangkok | 1 | Participant | Jul 2026 | |
 Seoul | 1 | Participant | Jul 2026 | |
This data is available for Pro users. Sign up to see all 17 Whale investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialWhale Competitors
Whale competitors include listed companies like Coveo Solutions and Datasection, and private ones like Babel Technology, DeepJudge, Delve and Druid AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Beijing | Private | $230M | $29M | $300M | 1.3x | |
 Zurich | Private | - | - | $300M | - | |
 San Francisco, CA | Private | - | - | $300M | - | |
 Bucharest | Private | $13M | - | $300M | 23.1x | |
 Canada | Publicly listed | $148M | ($25M) | $276M | 1.2x | |
 Japan | Publicly listed | $216M | $27M | $346M | 1.6x |
Whale Public Comps
Whale is still privately-owned, but its public comps include Vrain Solution, ZipRecruiter, eVISO, Coveo Solutions, CS Disco, Datasection, AInnovation Technology, AIAI Holdings, Cerence and DSC Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $21M | $6M | 14.5x | 11.5x | 49.0x | - | |||
| $449M | ($7M) | 0.9x | 0.9x | (62.1x) | 7.3x | |||
| $363M | $12M | 0.7x | 0.6x | 22.8x | 16.6x | |||
| $148M | ($25M) | 1.2x | 1.2x | (7.3x) | 107.6x | |||
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $216M | $27M | 1.6x | 1.6x | 12.7x | 13.0x | |||
| $226M | ($30M) | 0.7x | 0.8x | (5.7x) | (4.6x) | |||
| $272M | ($194M) | 1.0x | - | (1.4x) | - | |||
This data is available for Pro users. Sign up to see all Whale competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Whale
| When was Whale founded? | Whale was founded in 2017. |
| Where is Whale headquartered? | Whale is headquartered in Singapore, Singapore. |
| Is Whale publicly listed? | No, Whale is a private, VC-backed company. |
| What is Whale's valuation? | Whale was last valued at $300M in its Series C in May 2025. |
| How much funding has Whale raised? | Whale has raised $181M across 5 funding rounds. |
| What was Whale's last funding round? | Whale's last funding round was a $40M Series C in July 2026, led by CMB International and SMBC Asia Rising Fund. |
| Who are Whale's investors? | Whale's investors include Linear Capital, Temasek, Singtel Innov8, Alpha Startups, MDI Ventures, Gentree Fund, SMBC Asia Rising Fund, CMB International, Bosch Ventures, MTR Lab and 7 others. |
| Which companies are comparable to Whale? | Companies comparable to Whale include Babel Technology, DeepJudge, Delve, Druid AI, Coveo Solutions and Datasection. |
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